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Scott Schlegel’s Stock Market Indicators – March 22nd, 2020

22 March 2020
Ultra short term has been building off a solid base and shows at least some stocks are not getting as pummeled lately. It’s neutral right now.
Short term did the opposite and made new lows and is slightly off lows remaining in oversold territory.
If this time is not different, this indicator is likely indicating a bottom somewhere around here. Typically i like for it to build and form a higher base for increased confidence in an entry. That said, that didn’t really occur coming out of 2018 until significant gains were already made.
Long term is neutral and getting us a bit back to a decent entry point.
As a bonus, this chart shows the long long term trend of the S&P. Shockingly this recent sell off doesn’t look that dramatic compared to previous bear markets.
The long term cyclically adjusted PE ratio shows we are still elevated compared to the long running median and mean which is roughly shown by the black line. I post this mainly to show that we still aren’t yet necessarily at a great long term buying point. It’s improved a lot.

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